---

Market Overview

---

The Electric Double-layer Capacitor (EDLC) Market is projected to experience substantial growth in the coming years. It is estimated that the market size will reach USD 1,284.9 million by 2028, with a compound annual growth rate (CAGR) of 13.19% during the forecast period (2023-2028).

Electric double-layer capacitors are known for their high capacitance values, which are achieved through the use of high surface area electrode materials and thin electrolytic dielectrics. This allows them to store more energy compared to conventional capacitors. Additionally, EDLCs have a faster charge and discharge rate than batteries and can withstand more charge and discharge cycles.

The growth of the EDLC market can be attributed to the increasing demand for these capacitors across various applications. These include battery load leveling in mobile devices, memory backup in electronic devices, energy regeneration, energy harvesting in automobiles, and more. The market is also expected to benefit from the surging demand for graphene and carbon nanotube EDLCs, as well as government regulations aimed at reducing carbon emissions.

EDLCs are increasingly being used as substitutes for batteries in automotive, grid, and IT applications. They offer advantages such as safety, faster charging, and smaller size, while eliminating the need for complicated battery management systems. Improved EDLCs and their derivatives are particularly beneficial in applications such as mini-grids, trains, trams, trucks, heavy off-road vehicles, small uninterruptible power supplies for IoT nodes using energy harvesting, and data centers. The growth prospects for electric vehicles are promising, as automotive manufacturers focus on reducing dependency on the oil sector and governing bodies impose stringent environmental regulations. This has led EDLC manufacturers to explore profitable opportunities in the rapidly evolving automotive industry.

In addition to their use in automotive applications, EDLCs are also employed in other sectors. For example, smart meters are equipped with power storage devices to supplement their power supply for peak assistance, as they require significant energy to transmit wireless data. Power storage devices are also necessary for emergencies, such as power outages or accidents, in order to protect data in devices like server and drive recorders. These devices are often used outdoors or in low-temperature environments, highlighting the importance of maintaining their properties at low temperatures.

Researchers are actively working on developing affordable and innovative solutions based on current EDLC technology. These solutions aim to provide a more cost-effective and environmentally friendly alternative to existing models. One of the key areas of focus is reducing the cost of carbon electrode production and minimizing dependency on critical components.

However, a major concern for the market is the price difference between EDLCs and regular batteries. While EDLCs offer additional functions, they are slightly more expensive than batteries. This is expected to hinder the growth of the market.

The COVID-19 pandemic and resulting global lockdowns have had a significant impact on manufacturing activities, particularly in Asia-Pacific, where a substantial portion of global EDLCs and electrode materials are produced. The closure of major ceramic capacitor factories in China, Japan, and Malaysia due to the surge in COVID-19 cases has disrupted the supply chain. However, industries are optimistic about significant progress in the post-COVID-19 scenario. Key priorities include advancing commercial testing of materials, progressing commercial negotiations with potential partners, and exploring new avenues for customized EDLC applications in the market.

---

Market Segmentation

---

The market is segmented based on various factors, including end user and geography.

Segmentation by End User
Consumer Electronics
Energy and Utilities – Grid Applications, Wind and Others
Industrial
Automotive/Transportation – Bus and Truck, Rail and Tram, 48V Mild Hybrid Car, Micro Hybrids and Other Cars, Heavy Vehicles

Segmentation by Geography
United States
Europe
China
Japan
Korea and Rest of Asia
Rest of the World

The utilization of Electric Double-Layer Capacitors (EDLCs) in renewable energy applications has experienced significant growth in recent years. Consequently, there is a substantial opportunity for EDLC manufacturers to capitalize on the increasing focus on renewable energy sources. Presently, the Asia-Pacific region leads in renewable energy consumption, as well as the exploration of various materials, which is driving the growth of the EDLC market. EDLCs are a novel energy storage device that offers higher power density than batteries and greater energy density than standard capacitors.

Due to their numerous advantages, such as high efficiency, strong charge/discharge capabilities, and wide temperature range, EDLCs are being employed in an expanding range of applications, including renewable energy production, transportation, and power systems. In the context of wind farms, a hybrid energy storage system comprising both a battery and EDLC has been proposed to enable power dispatchability. This scheme allows for the control of the battery’s charging/discharging powers, while diverting the faster wind power transients to the EDLC, thereby extending the battery’s lifespan.

Various government initiatives are expected to drive the adoption of EDLCs in the market. For example, Chinese authorities have announced plans to add over 30 gigawatts of energy storage capacity by 2025 in order to enhance renewable energy utilization and stabilize the electric grid. Storage techniques involving electrochemical, compressed air, flywheel, and EDLC systems are referred to as new energy storage, in contrast to pumped hydro, which relies on water held behind dams to generate electricity as needed.

According to the China Energy Storage Alliance, China’s total energy production capacity exceeded 100/600 GWh by December 2022. Similarly, the India Energy Storage Alliance reports that India’s energy storage reached 70 GW in 2022. The storage of excess energy from renewable sources, such as wind and solar power, remains a significant challenge. The current US energy grid system is primarily designed for distributing energy and offers limited flexibility for storing excess energy on short notice. Conventional EDLCs have the advantage of high-power output with minimal performance degradation over up to 1,000,000 charge-discharge cycles.

Upgrades in power generation from renewable resources are being pursued to mitigate the rapid depletion of natural resources. This is expected to drive the demand for EDLCs in the coming years. The increasing demand for renewable energy generation is observed in countries across Europe, Asia, and the United States, which will further fuel the growth of the EDLC market.

The automotive industry’s growing adoption of EDLCs has also contributed to the market’s expansion in the region. The German automotive industry, known for its technological innovations, has been at the forefront of integrating smart technologies into vehicles. Hybrid and electric vehicles are expected to drive the growth of the automotive industry in Germany, with companies focusing on electric vehicle technologies. This development is anticipated to have a positive impact on the growth of the EDLC market.

The European Commission’s Graphene Flagship initiative aims to bring graphene from the laboratory to society within a decade. The initiative’s energy-related objectives include the production of graphene in large quantities to meet the demand for high-quality materials, integration of graphene into energy devices while preserving its properties, and enhancement of device performance using scalable methods suitable for commercialization. These efforts are expected to address the energy density or capacity limitations that currently hinder the use of EDLCs in electric vehicles (EVs).

Prominent players in the automotive industry, such as Lamborghini, have collaborated with researchers to develop innovative vehicles. For example, the Lamborghini Terzo Millennio is an electric vehicle that utilizes EDLCs embedded into the car’s chassis as an energy source. Additionally, Lamborghini has incorporated advanced electric technology into its first series-production hybrid cars, focusing on lightweight EDLCs and the capacity to store electrical energy in carbon fiber bodywork.

The surge in renewable energy investments across Europe, coupled with rapid investments and government initiatives in several EU regions, is expected to create a market for EDLCs. In response to Russia’s aggression in Ukraine and the EU’s dependence on Russian fossil fuels, the EU Parliament agreed on additional measures in December 2022 to significantly increase the percentage of renewables in the EU ahead of 2030. Consequently, the EDLC market is poised to benefit from the growing use of renewable wind energy in Europe over the forecast period. Supercapacitors are gaining prominence in large wind turbine pitch control applications. Windflix Europe predicts that the EU will deploy 116 GW of new wind farms between 2022 and 2026 to meet its 2030 climate and energy goals. Moreover, the installed offshore wind capacity in the EU, which was 14.6 GW in 2021, is expected to expand by at least 25 times by 2030, utilizing the vast potential of the five EU sea basins.

---

Competitive Landscape

---

The electric double-layer capacitor (EDLC) market exhibits fragmentation and is expected to maintain this state throughout the forecast period. Market players are strategically implementing various approaches such as partnerships, mergers, product innovations, investments, and acquisitions to enhance their product offerings and establish a sustainable competitive advantage.

In November 2022, Eaton expanded its product portfolio by introducing a high-performance and reliable energy storage device that is AEC-Q200-qualified. This new product incorporates the design of an electrical double-layer capacitor (EDLC) along with proprietary processes and materials. It is designed to provide a high capacitance level.

In August 2022, Skeleton Technologies Inc. entered into a technical partnership with Siemens, a renowned German company. This collaboration aims to manufacture supercapacitors (electric double-layer capacitors) in Germany. Siemens’ advanced technology will be utilized for production automation and digitization in Skeleton’s new factory, which is planned to be constructed in Leipzig, Germany.

Key companies profiled in this report include Eaton Corporation PLC, Maxwell Technologies Inc. (Tesla Inc.), Skeleton Technologies Inc., Cap-XX Limited, Kyocera Corporation, Supreme Power Solutions, LS Mtron Ltd, Tokin Corporation, Shanghai Aowei Technology Development Co. Ltd, Loxus Inc., Panasonic Corporation, Nantong Jianghai Capacitor Co. Ltd, Beijing HCC Energy Tech. Co. Ltd, Jinzhou Kaimei Power Co. Ltd (KAM), Shanghai Green Tech Co. Ltd (GTCAP), Shenzhen Topmay Electronic Co. Ltd, Liaoning Brother Electronics Technology Co. Ltd, SEMG (Seattle Electronics Manufacturing Group (HK) Co. Ltd), Chengdu Ztech Polymer Material Co. Ltd, Shanghai Pluspark Electronics Co. Ltd, Nippon Chemi-Con Corporation, Yunasko, Tavrima Canada Inc., Seiko Instruments Inc., TDK Corporation, Taiyo Yuden Co. Ltd, Vishay Intertechnology Inc., Cornell Dubilier Electronics Inc., Wurth Elektronik Group, Lelon Electronics Corp.

---

Recent Industry Developments

---

In March 2023, the Government of Canada announced its renewed support to accelerate the growth of the electronic systems industry in the country. The Quebec’s Electronic Systems Industry Cluster has been granted funding of approximately USD 450,000 from the Canada Economic Development (CED). This funding aims to enhance the industry’s growth and increase business productivity.

In May 2022, TDK Corporation unveiled the PhaseCapEnergy Plus, which consists of two new series of EPCOS PFC capacitors. These series boast an exceptional lifetime of up to 240,000 hours in temperature class -40/D, along with IP20 touch-proof terminals and pre-mounted ceramic-based discharge resistors. Furthermore, they offer a remarkable capacity of up to 15,000 switching operations per year, which is double the amount compared to previous types.

---

Key Questions Answered

---

What is the projected size of the Electric Double-layer Capacitor (EDLC) Market?
The Electric Double-layer Capacitor (EDLC) Market is projected to reach a size of USD 691.6 million in 2023 and is expected to grow at a CAGR of 13.19% to reach USD 1,284.9 million by 2028.

What is the current size of the Electric Double-layer Capacitor (EDLC) Market?
The Electric Double-layer Capacitor (EDLC) Market is expected to reach a size of USD 691.6 million in 2023.

Who are the major players in the Electric Double-layer Capacitor (EDLC) Market?
The major companies operating in the Electric Double-layer Capacitor (EDLC) Market are Eaton Corporation PLC, Maxwell Technologies Inc. (Tesla Inc.), Skeleton Technologies Inc., Cap-XX Limited, and Kyocera Corporation.

Which region is experiencing the highest growth in the Electric Double-layer Capacitor (EDLC) Market?
Asia Pacific is estimated to have the highest compound annual growth rate (CAGR) over the forecast period (2023-2028) in the Electric Double-layer Capacitor (EDLC) Market.

Which region holds the largest market share in the Electric Double-layer Capacitor (EDLC) Market?
In 2023, the Asia-Pacific region holds the largest market share in the Electric Double-layer Capacitor (EDLC) Market.